Odey Opus

“People who are running pretty high-beta portfolios include Crispin Odey in the Odey Opus fund. It tends to have quite a lot of pan-European equities with quite a slug in the US. It holds financials, retailers, housebuilders and others benefiting from the housing recovery. Most people have focused on big, international, stable earning that have been re-rated and today look expensive to us but Crispin is looking elsewhere.”